The South African government on Thursday praised the growing trade and economic relations with the People’s Republic of China. At least 88 Chinese companies have made major investments in the country’s economy.
Presidency Minister Jackson Mthembu said during a press conference that the growing trade relationship between Beijing and Pretoria has led Chinese companies to make capital investments of approximately R116 billion in South Africa since 2003.
“Between January 2003 and August 2019, a total of 26 South African companies invested in China, with a capital expenditure of R88 billion. A total of 88 Chinese companies invested about R116 billion in the same period in South Africa, ”he said.
ADavid Mabuza is currently on a working visit to the People’s Republic of China, where he will co-chair the Seventh South Africa / China International Commission (BNC).
“The South Africa / China BNC was established in 2002 to serve as a strategic platform to address issues of common concern such as trade promotions and economic trade,” added Mthembu.
“The Cabinet welcomes the signing of the strategic cooperation agreement between South African Tourism and the Chinese company Tencent, which owns the communication platform WeChat. This two-year agreement gives South Africa direct access to millions of prospective Chinese travelers (business and private travel), to market the country as a destination. ”
He said South Africa aims to double the visits of international tourists by 2030 from 10.4 million to 21 million.
The Cabinet also welcomes the Department of Basic Education’s empowerment initiative for school administrators, in collaboration with the government of China, where 25 principals share and exchange best practices in the school environment with their Chinese counterparts in Shanghai.